Big Oil has announced a new partnership with EdgePetrol, the innovative software company that specialises in providing fuel retailers with real-time visibility of their sites and live margins. As part of the partnership, EdgePetrol will now distribute Platts daily price assessments to Big Oil customers.
Owned by the Retail Motor Industry Federation (RMI) and established for more than 15 years, Big Oil is a price advice service to help independent forecourt operators understand the cost of fuel.
Big Oil has chosen EdgePetrol as a distribution partner due to their forward-thinking approach to the petrol retail industry, according to Gordon Balmer, commercial manager of the PRA - part of the RMI - who manages Big Oil. EdgePetrol is currently transforming operators’ working processes by helping them to understand in real-time how their business is performing.
“I am very pleased to have concluded a partnership with EdgePetrol as its innovative approach can only serve to enhance our offer to our customers. All sorts of factors influence the price you pay for fuel.
“Members of the PRA who enjoy preferential members terms, can use the subscription service to keep abreast of changes to product prices, check the price they are paying is correct and also make better buying decisions.”
Mark Truman, EdgePetrol’s chief revenue officer, said: “EdgePetrol is all about visible, accurate and timely information and the offering with Big Oil closely aligns with our vision for a more transparent fuel market.”
Big Oil has contracted with S&P Global Platts and each day receives S&P Global Platts’ latest ‘Market on Close’ assessments for unleaded, gasoil, and diesel, as well as biofuels. Using the closing $/£ exchange rate and density conversion factors, the values S&P Global Platts publishes are converted from $/tonne into pence per litre including Government excise duty.